The Fed is locked up in its tough battle against inflation, and its continued hawkish stance is raising the odds of a recession. According to the International Monetary Fund, global growth will slow down to 2.7% next year, and it will feel like a recession for many. The fund also anticipates that inflation will reach 8.8% in late 2022 and will “remain elevated for longer than previously expected.”
On the other hand, CNBC’s Jim Cramer expects a powerful rally later this month or the beginning of November, as per historical trends. He noted that the market tends to bottom in mid-to-late October and then leads into a “powerful” rally, providing a terrific buying opportunity.
